Northmarq’s Minneapolis office secures $13 million in acquisition financing for Shoreway Commerce Park

Shoreway Commerce Park
distribution/warehouse facility in Cleveland, OH

MINNEAPOLIS (Feb. 6, 2024) — Andy Finn, managing director of Northmarq’s Minneapolis Debt + Equity office, has collaborated with Mark Jeffries of the Denver office to finalize $12,998,000 million in acquisition financing for a 445,682-sq.ft. industrial facility in Cleveland, Ohio. Built in 1940 and renovated in 2010, the distribution/warehouse property is situated on 27.44 acres at 799 East 73rd Street.

Northmarq arranged financing on behalf of the borrower through its correspondent relationship with a life insurance company. The permanent fixed-rate loan was structured on a 3-year term with 2 years interest only followed by a 30-year amortization schedule.

Learn more about Northmarq’s financing services here.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit:

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